Dermatology Drugs Market (By Indication: Acne, Psoriasis, Rosacea, Alopecia, Others; By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies; By Administration Analysis: Topical Administration, Oral Administration, Parenteral Administration) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The dermatology drugs market size was estimated at USD 17.35 billion in 2022 and is expected to surpass around USD 51.71 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 11.54% during the forecast period 2023 to 2032.

Key Takeaways:

• The North America region accounted for 39.80% of the revenue share in 2022. 
• The psoriasis segment dominated the market with a revenue share of more than 36.16% in 2022 and is expected to expand with the highest CAGR of 11.6% from 2023 to 2032.
• The alopecia segment is likely to expand with the second-highest CAGR of 10.9% from 2023 to 2032.
• On the basis of the distribution channel, the hospital pharmacy segment commands the greatest proportion.
• In 2022, the parenteral administration market sector held a monopoly
• On the basis of administration analysis, the parenteral administration segments sector held a monopoly.

Dermatology Drugs Market Report Scope

The market for dermatological medications is expanding as a result of the rise in patients with dermatitis, fungal, and acne. According to data from the American Association of Dermatologists, acne affects almost 50 million individuals in the US alone. Skin and other associated issues can arise for a variety of causes, including improper body care, excessive perspiration, consuming hot foods, and wearing constricting clothing. As a result, the market is observing a rise in the sales of medications used for treatments. It has been demonstrated that increased public knowledge of skin and hair infections presents a potential opportunity for the industry. The sale of over-the-counter (OTC) medications, which are frequently used to treat hair loss and acne, has increased as a result of increased knowledge. Due to hormonal fluctuations, most young people and teenagers have skin-related problems such as skin irritability, acne, and excessive perspiration. The market is anticipated to continue expanding because of the increase in demand for dermatological medications that are regularly used as anti-inflammatory agents and cleansers topically.  Other considerations include an increase in spending on R&D by industry leaders for the creation and clinical testing of new medications as a result of the rise in demand for innovative, efficient, and affordable medications. The rise in skin cancer cases and other illnesses is contributing to the expansion of the pharmaceutical industry. However, a number of adverse effects and inappropriate application of dermatological medications, together with governmental limitations and guidelines, will prevent the industry from developing to its full potential.

Indication Insights

The psoriasis segment dominated the market with a revenue share of more than 36.16% in 2022 and is expected to expand with the highest CAGR of 11.6% from 2023 to 2032. Psoriasis is caused by the immune system mistakenly attacking healthy skin cells. Psoriasis is not a contagious disease. The disease causes swollen fingers and toes, foot pain, lower back pain, nail changes, and eye inflammation. Psoriasis can be triggered by stress, skin injury, infections, some drugs, and heavy drinking. Psoriasis is found in all age groups but is majorly seen in adults and contributes to the global dermatology drug revenue.

The alopecia segment is likely to expand with the second-highest CAGR of 10.9% from 2023 to 2032. Alopecia caused due to the body’s immune system attacking hair follicles resulting in hair loss. Alopecia is an autoimmune disorder that results in hair coming out. Both men and women suffer from Alopecia due to an imbalance of hormones, hair care treatments, scalp infections, and possible side effects of some medications. Additionally, hereditary hair loss is the most common cause of hair loss globally. Citizens are careful about hair loss and visit hospitals for diagnosis. Hair loss requires ongoing treatments for a long period and contributes to the market growth rate.

Distribution Channel Insights

Due to a growth in patient visits and sales of prescription-only medications for the treatment of dermatological skin problems, the hospital pharmacy segment commands the greatest proportion of the worldwide dermatology drug market. This segment is expanding as a result of an increase in patient preference for local pharmacies and the accessibility of inexpensive OTC products. Due to the widespread use of online portals and websites like Amazon and Walmart, the online pharmacy market is anticipated to grow at a profitable CAGR over the course of the projected period.

Administration Analysis Insights

In 2022, the parenteral administration market sector held a monopoly. The introduction of biologics for the treatment of dermatological disorders is responsible for the segment's dominance. Furthermore, it is anticipated that a growth in patient desire for tropical remedies would drive up sales of the items. Due to the US FDA's clearance of oral medicines, the oral category is predicted to have a substantial CAGR throughout the projection period.

Regional Insights

The North America region accounted for 39.80% of the revenue share in 2022. Due to the greater prevalence of skin conditions and diseases in the continent, North America accounted for the bulk of the market. According to statistics from statistica.com, in the US, those between the ages of 18 and 29 made the largest proportion of dermatologist visits, at 16.9%, followed by those between 50 and 64 at 15.78%, and those between 30 and 49 at 12.95%. Additionally, the introduction of new medications and the existence of significant industry-important players are fueling market expansion. The primary market growth contributors in the area are the USA, Canada, and Mexico. Because big businesses make significant investments in research and development for the creation of new pharmaceuticals, the European area ranks second on the market. The market is being driven by an increase in the prevalence of skin diseases among individuals and a decrease in the number of visits people are making for treatment. The fourth most prevalent sickness among people is a skin problem or disease, which has led to an increase in medicine demand throughout time. Due to the greater number of young patients, France, Germany, and Italy are the main contributors to the market growth in the area. Due to the relocation of important regional companies and growing awareness, the Middle East and Africa market is also exhibiting growth rates.

Because of the area's increased awareness of skin diseases and access to effective skin treatments, the Asia-Pacific region is anticipated to have the largest market growth. The market expansion has been encouraged by the availability of appropriate healthcare facilities. The annual Asia-Pacific Dermatology conference, which is held in several countries, is the main driver of market expansion in this area. where countries in the Asia-Pacific region congregate to talk about advancement, cooperation, concepts for better patient care, and medication development in the area. The three countries with the largest market shares in the area are China, Japan, and India.

Recent Developments

• In June 2019, DUOBRIITM Lotion was launched in the United States by Bausch Health Companies Inc. and Ortho Dermatologics. DUOBRII, which received approval from the US Food and Drug Administration on April 25, 2019, is the first and only topical lotion to include halobetasol propionate and tazarotene combined in a single formulation.
• In April 2019, the US FDA granted SKYRIZITM, an interleukin-23  inhibitor, approval for the treatment of moderate to severe plaque psoriasis in adults who are candidates for systemic therapy or phototherapy.

Some of the prominent players in the Dermatology Drugs Market include:

• LUPIN (India)
• Novartis AG (Switzerland)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Pfizer Inc. (U.S.)
• Sanofi (France)
• Amgen inc. (U.S.)
• Lilly (U.S.)
• AstraZeneca (U.K.)
• AbbVie Inc (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• LEO Pharma A/S (Denmark)
• Merck & Co., Inc (U.S.)
• Bausch Health Companies Inc (Canada)
• Bristol-Myers Squibb Company (U.S.)

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the Dermatology Drugs market.

By Indication

• Acne
• Psoriasis
• Rosacea
• Alopecia
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies 

By Administration Analysis

• Topical Administration
• Oral Administration
• Parenteral Administration

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)